"There were 26 Purdue
Foundry startup applicants from nearly every sector that applied for
this inaugural round of funding, and selecting the awardees was
competitive and difficult," said Greg Deason, executive director of the
Purdue Foundry. "What we witnessed is a testament to the quality and
strength of Purdue's entrepreneurial environment, and we encourage all
those who did not receive funding this time to apply for the next round."

"An important goal of the program is to generate more startups in
Indiana and keep talented innovators and entrepreneurs in our state,"
said Ting Gootee, Elevate Ventures chief investment officer. "The
results of this first round of startup applicants is a clear indication
that the Elevate Purdue Foundry Fund will be a strong economic
contributor for Indiana in terms of job creation, talent retention and
technology development."

* Mobile
Enerlytics LLC, a software company developing a technology to
increase smartphone battery life and reduce energy usage of smartphone
apps.

* Prehensile Technologies, which designs and develops assistive
technologies for individuals with disabilities.

* SensorHound
LLC, a software and services startup developing technology to
improve the reliability and reduce the cost of the Internet of Things,
or IoT.

* SPEAK
MODalities LLC, a software company offering iPAD applications to
help children and families dealing with non-verbal autism improve
communications.

The First-Tier Black Award is in the form of a nonrecourse convertible
promissory note, and notes will be finalized directly with Elevate
Ventures. The First-Tier Black Award also qualifies the startups to
apply for a Second-Tier Gold Award that is available in amounts up to
$80,000 through a convertible debt or equity investment.

The funding is part of a three-year, $2 million targeted investment
program through collaboration among the Purdue Foundry, Elevate Ventures
and the Indiana Economic Development Corporation. In addition to the
funding, the program provides two additional entrepreneurs-in-residence
through the Purdue Foundry to mentor entrepreneurs.